Ore deposits are frequently associated with various types of rock alteration that may affect the physical properties of rocks, and result in a characteristic signature of the deposits. The present work focuses on the use of geophysical data in targeting areas hosting Fe-oxide Cu-Au (IOCG) deposits west of the Kiruna mining district, northern Sweden. It is noted that IOCG deposits in different areas worldwide (e.g., Australia, Canada) are preferentially located in proximity to faults associated with deformation zones of regional relevance, and that the deposits are hosted in areas affected by potassic to sodic alteration. This study shows that at a semi-regional scale IOCG deposits occur within areas of high positive gravity anomalies, high values of estimated potassium content and high K/Th ratios, which is an expression of potassic alteration. High magnetic anomalies are associated with magnetite occurrences, while low linear magnetic anomalies mark fault/shear zones, in proximity of which the majority of the IOCG deposits occur.